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Fed Becomes Founding Sponsor Of Faster Payments Council

PYMNTS

“Our payment system is a vital part of America’s infrastructure that touches everyone,” said Esther George, president and chief executive officer of the Federal Reserve Bank of Kansas City. She is also a sponsor of the Federal Reserve’s payments improvement initiative. As a result, the FPC was created in 2018.

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Fed Names New Payments Security Leader

PYMNTS

Kenneth Montgomery, first vice president and chief operating officer of the Federal Reserve Bank of Boston, is taking up the position. Montgomery will also retain his position at the Boston Fed, where he focuses on services for the U.S. Treasury and financial market, among other responsibilities.

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Fed Says America Needs Instant Payments As Soon As Possible

PYMNTS

The most recent details on FedNow come roughly a year after the central bank announced its plans to build and operate real-time rails. However, Kansas City Fed chief George said the system will initially focus on domestic movement of money and won’t include cross-border transactions.

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CFPB announces new appointments to advisory groups

CFPB Monitor

Lynn Drysdale, Managing Attorney, Consumer Law Unit, Jacksonville Area Legal Aid, Inc., Arjan Schutte, Founder and Managing Partner, Core Innovation Capital, Los Angeles, CA. Raul Vazquez, Chief Executive Officer, Oportun, Redwood City, CA. Raul Vazquez, Chief Executive Officer, Oportun, Redwood City, CA.